A divided NCUA board of directors yesterday voted to approve the agency’s risk-based capital delay. The final rule delay’s the agency’s risk-based capital requirements until 2022.
The NCUA board of directors will hold their monthly meeting next Thursday, Dec. 12. During the meeting, the board will vote on a final risk-based capital rule, which could delay the agency’s risk-based capital requirements until 2022.
The NCUA joined other federal financial regulators in issuing a statement on the use of alternative data in underwriting by credit unions, banks and non-bank financial firms.
NCUA Board Chairman Rodney Hood will testify before the U.S. Senate Committee on Banking, Housing and Urban Affairs on Thursday, Dec. 5. Hood will be joined by Randal Quarles, vice chairman for supervision of the Federal Reserve System’s board of governors, and Jelena McWilliams, chairwoman of the Federal Deposit Insurance Corporation.